USD/CHF Surges as Fed Hike Bets Fuel Dollar Strength

The USD/CHF exchange rate has resumed its upward path after a brief pullback from its yearly high of 0.8263 on September 16, trading at around 0.8244 at the time of writing.

This move is largely driven by market expectations of Federal Reserve rate hikes, which are supporting the US Dollar.

The technical picture remains bullish, with higher highs and higher lows in the price structure and a firming Relative Strength Index (RSI).

Traders eyeing a break above 0.8300 could target the year-to-date peak of 0.8347 before potentially moving towards 0.8400 or even 0.8476.